Marcus & Millichap is pleased to present 533 Front Street, a multitenant office property located in downtown Wheaton, Illinois. The property consists of 7,230 square feet of rentable office space and is located adjacent to the Union Pacific West Line, the Metra line that runs through downtown and has been a staple of Wheaton since its founding.

Sought after because of the low property taxes, in-fill location, and strong occupancy, this offering provides an investor an opportunity to own real estate in an affluent community in DuPage County with potential upside through increasing rents that are substantially below market averages.

This property is 100 percent occupied, currently leased to two tenants who share the building. The Upper Room Dance Studio is on the 2nd Floor and has occupied the space for almost a decade with a stable clientele in the area. The first floor and lower area are occupied by a church group that holds services on the first floor and special designated activity areas in the lower level offices. The property has benefited from strong occupancy due to the dense in-fill location and demand for this type of space in the downtown area.

Currently, the building is leased at below market rents - about 50 percent of the average rental rate for the area. This value-add investment allows an investor to acquire a premier location at a price substantially below replacement cost, gradually increase rents to market levels, as the property is not encumbered by long term leases, and realize double digit returns.

Location Description:

Wheaton is the County Seat of DuPage County and was listed among the â